| Are you a veteran currently holding a VA loan on your | | | | How much can you save? |
| mortgage? | | | | Potentially tens of thousands over the life of your loan. |
| If so, now could be the perfect time to save a ton of | | | | Consider your current mortgage for example: |
| money by using the IRRL program exclusively | | | | If your current mortgage is based on a loan of |
| designed for US veterans. | | | | $200,000 at 6.5% interest rate for thirty years, your |
| What is IRRL? | | | | monthly housing bill (principal and interest) is $1,264. If |
| IRRL is the "Interest Rate Reduction Loan" program. | | | | you've lived in the home for 3 years you would owe |
| This program allows you, the veteran, to easily lower | | | | $192,602, so this is how much you would need to |
| your interest rate thus lowering your monthly housing | | | | refinance. It's not uncommon for the IRRL program to |
| bill substantially... | | | | drop your interest rate 1 full point to 5.5%, which puts |
| Plus the rules of the program make it easy to qualify | | | | your new monthly bill at $1,093 or a savings of $171 a |
| for... but only if you are a veteran or active serviceman | | | | month. |
| or woman. | | | | Who couldn't use the extra money?! So why not look |
| Here are 4 key features that make this program easy | | | | into this exciting IRRL program if you are a veteran? It |
| and possible for many Vets to save money: | | | | makes no sense to pay extra money on a mortgage |
| 1) You will need no appraisal on your current home | | | | when you don't need to, especially when the process |
| 2) All closing costs can be rolled into the new loan | | | | is so easy. |
| 3) You will not need to present bank statements, pay | | | | The link below has many sources of lenders |
| stubs or even prove employment | | | | specializing specifically in VA loans. |
| 4) No minimum FICO score to qualify | | | | |